Resolution No. 16-018 Finding and Declaring a Substantial Need for Using the 101% Limit Factor Under Revised Code of Washington (RCW) Chapter 84.55
Details: The current implicit price deflator (IPD) limit is under 1% at .953%. This resolution allows Council to approve a 1% property tax increase for the 2017 property tax levy by declaring the City has a "substantial need" for the full 1% to help fund public safety, transportation, parks and recreation and facilities.
Presenter: Cathy Huber Nickerson, Finance Director

Resolution No. 16-018 Finding and Declaring a Substantial Need for Using the 101% Limit Factor Under Revised Code of Washington (RCW) Chapter 84.55

Details: The current implicit price deflator (IPD) limit is under 1% at .953%. This resolution allows Council to approve a 1% property tax increase for the 2017 property tax levy by declaring the City has a "substantial need" for the full 1% to help fund public safety, transportation, parks and recreation and facilities.